Nifty does a mirror image pattern

NSE:NIFTY   Nifty 50 Index
Closing price 11132

What do I mean by mirror image pattern

Well, if you see from the Budget day low of 11633.30 Nifty bounced back to make a high of 12246. i.e 613 points on the upside. Once we closed exactly at 11633.30 on 27th February 2020, and opened gap down the next day it was evident that Nifty is going to fall near about 613 points. ( Jitna Upar utna Neeche) Today's low of 11036 is very close to pattern target of 11020 so near about completing that pattern.

In one of my earlier post on 17th Jan 2020, when Nifty was at 11380 odd levels, we had highlighted the Nifty may fall up to 10900 odd levels.

In the zone of 10880-11030 there is a good chance Nifty might find some support in the short term.

There could be a possibility of Nifty moving towards 11600 odd levels in complex manner in weeks to come.

Take care & safe trading...!!!


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